Posted on 30 October 2012 by Hannah
I would like to move out of my home for 1 year. It is worth £170,000 and I have a £72,000 Mortgage with Halifax . When I asked for a consent to lease they informed me that I would have to go on a different mortgage at 6%. I am currently on 3.5% with a variable, tracker. Whilst I don't mind paying extra for the year I am renting flat out I do not want to loose the favorable rate permanently, also I am self employed so they may not even let me have a different mortgage. Do you have any advice on how I can rent my flat out for a year without changing my mortgage?
Once you return to your flat, they will look at giving you an alternative product, though it is normally down to what is available at the time, rather than the rate you were on previously.
If you would like to discuss your options in more detail, then please let me know and I'll get one of our consultants to speak with you.
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